Debate has swirled over U.S. President Joe Biden’s student loan-forgiveness plan, but there has been relatively little consideration of some of its longer-run ramifications.
Whatever you think of the initiative itself, it may herald a turning point for U.S. higher education.
Critics of the policy see it as rewarding Democratic supporters and interest groups, including university faculty and administrators but most of all students. This perception, regardless of whether it’s true, will influence political behavior.